Crypto analysis for BTC, ETH, EGLD, SOL and SUSHI - February 20, 2025
Crypto market in the last 24h:
🌐 Global Market Cap: $3.2T (+1.52%)
📊 Total 24h Volume: $83.43B (-18.36%)
💰 DeFi Volume: $6.76B (8.11% of total volume)
🔒 Stablecoin Volume: $78.2B (93.72% of total volume)
💵 Bitcoin Dominance: 60.21% (+0.04%)
Bitcoin (BTC) Analysis
BTC has formed a well-defined inverse head & shoulders pattern, increasing the probability of a bullish move. However, for confirmation, we need a breakout and a candle closing above the resistance zone at 97,436 USD. If this breakout occurs, it could trigger further upside momentum, with potential targets at 98,368 USD and 99,682 USD.
Ethereum (ETH) Analysis
ETH has formed a cup & handle pattern, increasing the probability of a bullish move. However, for confirmation, we need a breakout and a candle closing above the resistance zone at 2,918 USD. If this breakout occurs, it could trigger further upside momentum, with potential targets at 3,108 USD and 3,296 USD.
MultiversX (EGLD) Analysis
EGLD has formed a descending channel, shown a Change of Character (CHoCH) toward the bullish side, and developed a cup & handle pattern, all of which increase the probability of a bullish move. However, for confirmation, we need a breakout and a candle closing above the resistance zone at 22.43 USD. If this breakout occurs, it could trigger further upside momentum, with potential targets at 22.93 USD and 23.66 USD.
Solana (SOL) Analysis
SOL has shown selling pressure followed by consolidation, forming a bear flag pattern, increasing the probability of a bearish continuation. However, for confirmation, we need a breakdown and a candle closing below the support zone at 160.48 USD. If this breakdown occurs, it could trigger further downside momentum, with potential targets at 154.81 USD and 150.34 USD.
SushiSwap (SUSHI) Analysis
SUSHI has formed an M pattern and is approaching a breakdown of the supportive trendline and support zone at 0.86516248 USD. If the price breaks down and closes a candle below this level, it could confirm a bearish move, potentially targeting 0.83268464 USD and 0.81243862 USD.
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